In a conversation over the WTF podcast with Zerodha co-founder Nikhil Kamath, OpenAI CEO Sam Altman talked a great deal about generative artificial intelligence. Altman painted a picture of a future where artificial general intelligence, or AGI, could fundamentally change the global financial system, potentially leading to “-2% interest rates” and a new era of redistribution.
Altman believes that AGI will rewrite the rules of capitalism and, in the process, create a more abundant society. “As society gets richer, redistribution will increase,” he predicted. He talked about a future where wealth generated by AI is managed through universal basic income or sovereign wealth funds. He hopes that this abundance would lead to a reversal of a troubling social trend, stating, “Family and community have been in retreat. In a world where people have more abundance, more time, more resources, I hope we turn back to that.”
Altman and Kamath discuss AGI
While Kamath raised the point that human desire is often driven by status and competition, Altman agreed, saying, “Human demand and desire seem limitless. We’ll find new things to want and compete over.”
Altman also dismissed the idea that a single company could dominate the AI market, likening AGI’s trajectory to the transistor, a technology that became a ubiquitous part of countless industries. However, he said that if such dominance were to occur, “society would say, ‘We don’t think so,’ and act.”
AGI could affect interest rates
Adding to the discussion, Altman acknowledged the potential for a troublesome future, but also recognised the complexity of the transition. He recalled a conversation with a dinner companion who, when asked if future interest rates would be -2% or 25%, initially laughed before conceding, “actually, I’m not sure.” Altman admitted that it is “very hard to see more than a few years into the future,” acknowledging that the path to this new reality would likely be a “weird” transitional period.
Altman also went on to describe the evolving landscape of work and creativity in the era of AI as an “open canvas.” He said that with traditional constraints minimised, creativity can now flourish. Young entrepreneurs can launch ambitious projects with fewer resources, and people seeking jobs can find new opportunities in fields like science and software development.
